China's BYD launches new cheaper plug-in hybrid EV

BEIJING, China: Extending price cuts to stay competitive in the world's largest auto market, on Monday, Chinese electric vehicle (EV) giant BYD launched a new version of its plug-in hybrid sedan, the Qin Plus DM-i, with a lower starting price.

The new model will cost 20 percent less than the previous version at 79,800 yuan (US$11,090).

The Qin Plus hybrid is competing with Nissan's Sylphy, VW's Lavida an